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Factbox: India's measures to stem rupee slide in 2013

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Reuters
Last Updated : Jul 16 2013 | 4:25 PM IST

REUTERS - India's boldest attempt yet to stem a rout in the rupee delivered only a modest lift in the currency but sent bond and stock prices tumbling on Tuesday, sparking concern the unexpected measures inflict too much pain for limited gain.

For list of currency-related measures from the Reserve Bank of India and the government this year, see below:

JULY

> RBI tightens liquidity, lifts short-term rates, caps banks' funding, and announces bond sale worth 120 billion rupees

> RBI extends relaxation of the all-in-cost ceiling for issuers of external commercial debt

> India's regulators toughen rules for derivatives trading in currency markets

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> RBI eases rules for non-bank asset finance companies to raise debt overseas

> RBI introduces provisioning, capital requirements for bank exposed to corporates with unhedged FX

JUNE

> India further tightens gold import rules

> RBI extends buyback time period of foreign currency convertible bonds until December 31

> RBI allows telcos to refinance rupee loans until March

> RBI tightens gold lending norms for regional rural banks

> RBI eases rules for low-cost builders to access overseas loans, hedge entire borrowing

> RBI relaxes some forex option premium payment rules

> RBI asks exporters to realise dollar earnings, bring them back into country within one year

> RBI restricts loans against gold coins by co-operative banks

> India fin min says RBI advised banks not to sell gold coins

> India raises gold duty to 8 pct

> RBI extends gold import curbs on nominated and trading agencies

MAY

> RBI mulls easing hedging norms for exporters, importers

> RBI cuts timeframe for exporters to repatriate earnings

MARCH

> RBI relaxes collateral rules for foreign investors in futures and options in stock exchanges

> RBI eases overseas borrowing norms for firms under investigation

> RBI removes restrictions on open position limits for rupee currency pairs

JANUARY

> RBI eases rules for exporters to access FX markets

(Compiled by Neha Dasgupta and Shamik Paul; Editing by John Mair)

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First Published: Jul 16 2013 | 4:10 PM IST

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